Century Therapeutics (NASDAQ:IPSC) PT Lowered to $11.00

Century Therapeutics (NASDAQ:IPSC) had its price target dropped by investment analysts at HC Wainwright from $13.00 to $11.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 261.84% from the stock’s current price.

IPSC has been the topic of a number of other reports. Canaccord Genuity Group raised their price objective on shares of Century Therapeutics from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Piper Sandler restated an “overweight” rating and issued a $9.00 price target (down from $10.00) on shares of Century Therapeutics in a research report on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Century Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $13.20.

Century Therapeutics Stock Performance

NASDAQ IPSC opened at $3.04 on Friday. Century Therapeutics has a 52 week low of $1.28 and a 52 week high of $5.51. The stock has a market capitalization of $197.05 million, a P/E ratio of -1.33 and a beta of 1.44. The stock has a fifty day moving average of $3.87 and a 200-day moving average of $3.23.

Century Therapeutics (NASDAQ:IPSC) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.07. Century Therapeutics had a negative return on equity of 54.73% and a negative net margin of 6,115.12%. The firm had revenue of $0.27 million during the quarter, compared to analysts’ expectations of $1.69 million. Equities research analysts forecast that Century Therapeutics will post -1.94 earnings per share for the current fiscal year.

Insider Transactions at Century Therapeutics

In other Century Therapeutics news, insider Adrienne Farid sold 22,831 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $5.14, for a total value of $117,351.34. Following the completion of the transaction, the insider now directly owns 114,149 shares of the company’s stock, valued at $586,725.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 34,001 shares of company stock valued at $152,090 over the last three months. 7.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Century Therapeutics

Several large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Century Therapeutics in the 1st quarter valued at approximately $47,000. Abel Hall LLC bought a new position in shares of Century Therapeutics during the 4th quarter worth approximately $33,000. Avidity Partners Management LP raised its holdings in shares of Century Therapeutics by 23.4% in the fourth quarter. Avidity Partners Management LP now owns 1,355,000 shares of the company’s stock valued at $4,499,000 after purchasing an additional 256,500 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Century Therapeutics by 0.4% in the fourth quarter. Federated Hermes Inc. now owns 618,482 shares of the company’s stock worth $2,053,000 after purchasing an additional 2,500 shares in the last quarter. Institutional investors own 50.20% of the company’s stock.

About Century Therapeutics

Century Therapeutics, Inc, a biotechnology company, engages in the development of genetically engineered allogeneic cell therapies for the treatment of solid tumor and hematological malignancies. Its lead product candidate is CNTY-101, an allogeneic, induced pluripotent stem cells (iPSCs)-derived chimeric antigen receptors (CAR)-iNK cell therapy, under Phase 1 trials targeting CD19 for relapsed, refractory B-cell lymphoma.